Choosing the right office space is a critical decision that could have big repercussions on the future of your business. A simple mistake, such as choosing the wrong location or not considering your business's growth could really hurt you in the long run. But in this article, we're going to touch up on five things every business owner should consider when renting office space.
What Kind of Office do I Need?
This is really the first question every business owner should ask themselves. These days, there are many options open to entrepreneurs depending on their needs. If you're a sole business owner without employees, then a shared coworking space
might be the best for you. If you are a bigger business and you need somewhere presentable to meet clients, then a regular office might be better. Make sure you identify your needs first before you start your search.
Where your office is located has more of an influence on how your business is viewed than you might think. If it's in a nice area, people will usually assume that your business is successful and this will give them an extra sense of confidence when they visit, therefore having a direct effect on your sales. The ideal office space should be easy to access and in a vibrant area.
When speaking about cost, we’re not simply talking about rent, but every cost associated with the office space as well. This includes moving costs, parking, restoration, utilities, etc. All those factors should be clearly listed with monthly estimates for budgeting.
When renting or buying an office space, expansion should always be on your mind. It is very important that the spot you choose can accommodate your current number of employees and all the equipment needed to carry on with business. Also, you have to take future equipment purchases into the equation as well to make sure you don't run out of space in the future.
Of course, aesthetics should be on top of your mind when choosing an office space. Again, this will have a direct influence on your clients, but will also affect the morale of your employees. Whichever style you choose, always make sure the office space is well kept and important reparations are made before you welcome any client in. Make sure that nothing looks unfinished and consider investing in a few renovations if necessary.
If you do decide to go for a shared office space, you have to discuss amenities first. What is included in the rent? Wi-Fi and utility costs or the bare minimum? You should also be able to receive mail at your office, as not all shared office spaces will allow you to use their location as a mailing address.
These are all factors that need to be taken into consideration before you go about looking for office space. All these factors will not only affect how your business is viewed by your clients, but your business's efficiency as well.